Social Chain AG (STU:PU11) Beneish M-Score : -3.48 (As of Apr. 01, 2025)

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What is Social Chain AG Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.48 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Social Chain AG's Beneish M-Score or its related term are showing as below:

STU:PU11' s Beneish M-Score Range Over the Past 10 Years
Min: -3.48 Med: -0.42 Max: 56.17
Current: -3.48

During the past 6 years, the highest Beneish M-Score of Social Chain AG was 56.17. The lowest was -3.48. And the median was -0.42.

Social Chain AG Beneish M-Score Historical Data

The historical data trend for Social Chain AG's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Social Chain AG Beneish M-Score Chart

Social Chain AG Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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56.17

-1.08

0.25

-3.48

Social Chain AG Semi-Annual Data
	Dec17	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Mar24
Beneish M-Score	Get a 7-Day Free Trial						0.25	-	-3.48	-	-

Competitive Comparison of Social Chain AG's Beneish M-Score

For the Internet Content & Information subindustry, Social Chain AG's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Social Chain AG's Beneish M-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Social Chain AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Social Chain AG's Beneish M-Score falls into.

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Social Chain AG Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Social Chain AG for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.473

0.528 * 1.6866

0.404 * 0.8736

0.892 * 0.48

0.115 * 0.4173

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9856

4.679 * -0.243956

0.327 * 1.2362

-3.48

This Year (Dec22) TTM:

Last Year (Dec21) TTM:

Total Receivables was €58.00 Mil.
Revenue was €115.99 Mil.
Gross Profit was €26.38 Mil.
Total Current Assets was €188.37 Mil.
Total Assets was €420.24 Mil.
Property, Plant and Equipment(Net PPE) was €61.33 Mil.
Depreciation, Depletion and Amortization(DDA) was €20.91 Mil.
Selling, General, & Admin. Expense(SGA) was €35.14 Mil.
Total Current Liabilities was €122.36 Mil.
Long-Term Debt & Capital Lease Obligation was €217.98 Mil.
Net Income was €-126.66 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-24.15 Mil.

Total Receivables was €82.04 Mil.
Revenue was €241.64 Mil.
Gross Profit was €92.70 Mil.
Total Current Assets was €264.36 Mil.
Total Assets was €633.25 Mil.
Property, Plant and Equipment(Net PPE) was €74.73 Mil.
Depreciation, Depletion and Amortization(DDA) was €8.87 Mil.
Selling, General, & Admin. Expense(SGA) was €74.26 Mil.
Total Current Liabilities was €301.10 Mil.
Long-Term Debt & Capital Lease Obligation was €113.77 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(58.003 / 115.989)	/	(82.035 / 241.637)
	=	0.500073	/	0.339497
	=	1.473

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(92.698 / 241.637)	/	(26.382 / 115.989)
	=	0.383625	/	0.227453
	=	1.6866

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (188.37 + 61.33) / 420.235)	/	(1 - (264.356 + 74.73) / 633.248)
	=	0.405809	/	0.464529
	=	0.8736

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	115.989	/	241.637
	=	0.48

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(8.871 / (8.871 + 74.73))	/	(20.91 / (20.91 + 61.33))
	=	0.106111	/	0.254256
	=	0.4173

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(35.135 / 115.989)	/	(74.264 / 241.637)
	=	0.302917	/	0.307337
	=	0.9856

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((217.977 + 122.358) / 420.235)	/	((113.765 + 301.097) / 633.248)
	=	0.809868	/	0.655134
	=	1.2362

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-126.664 - 0	-	-24.145)	/	420.235
	=	-0.243956

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Social Chain AG has a M-score of -3.48 suggests that the company is unlikely to be a manipulator.

Social Chain AG Beneish M-Score Related Terms

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Social Chain AG Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » Social Chain AG (STU:PU11) » Definitions » Beneish M-Score

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Traded in Other Exchanges

PU11:Germany

Address

Alte Jakobstr. 85/ 86, Berlin, DEU, 10179

Website

https://www.thesocialchain.ag

Social Chain AG is p is an integrated social media company that combines social media, social commerce, and brick-and-mortar retail under one roof. It focuses on brands, social experiences, and product worlds that are identified, developed, and marketed directly to end consumers (direct-to-consumer brands) via social media. It has three segments - Social Commerce, Social Media, and Retail (DS Group). Social Commerce focuses on three areas (Verticals) Food, Home & Living, Beauty & Health. Online stores are the efficient points of sale for direct-to-consumer brands. More than 70 percent of direct-to-consumer sales are generated through operating online shops. The Social Commerce segment generates maximum revenue.

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